Crestwood Advisors Group LLC Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Crestwood Advisors Group LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,662 shares of the company's stock after acquiring an additional 5,020 shares during the period. Crestwood Advisors Group LLC's holdings in Palantir Technologies were worth $1,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp grew its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter valued at $1,360,191,000. FMR LLC grew its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $810,271,540.26. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the transaction, the director owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,485,632 shares of company stock valued at $191,222,623. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Down 1.8%

Shares of NASDAQ:PLTR opened at $149.07 on Wednesday. The company's fifty day moving average is $134.33 and its two-hundred day moving average is $106.57. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68. The company has a market cap of $351.79 billion, a P/E ratio of 648.13, a price-to-earnings-growth ratio of 12.96 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Cantor Fitzgerald raised their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Wedbush set a $160.00 price objective on Palantir Technologies in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $91.37.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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